The Technology Behind Blockchain: Undiknas Information Technology Study Program Discusses Current Banking Technology

Denpasar – In the development of banking technology, innovations continue to be presented on all fronts. One that is currently being widely discussed among the public is a technology in the financial sector that is predicted to have the potential to replace conventional financial transactions and change the concept of world finance, the technology is known as Blockchain. Students at the National Education University (Undiknas) also don’t want to be left behind or they usually call it FOMO (Fear of Missing Out) about current issues that are widely discussed.

On one occasion, Undiknas through the Information Technology Study Program (Prodi), held a seminar that discussed what Blockchain technology is. The seminar activity, which carries the theme The Technology Behind Blockchain, was held in a hybrid manner, namely at the Dwi Tunggal Auditorium and via Zoom Meeting. The seminar activity is targeted to be able to bring 450 participants who join through the two modes globally (28/4/2022).

The interviewees who attended came from the Indonesian Blockchain Association represented by Ms. Asih Karnengsih, M.M. and a lecturer at Undiknas on behalf of Ketut Gede Sri Diwya, S.T., M.Int.Bus., M.Inf.Tech. In the seminar, it was explained how this Blockchain system works and the extent of its potential and influence in the future, especially in the economic, banking, and financial sectors.

Blockchain represents a data bank system, which is a place to store digital money data known as Cryptocurrency. This term refers to digital currency, which is currently being widely used in society as a substitute for conventional currency. In the seminar session, Undiknas students discussed in more detail the decentralization concept of Blockchain. This concept means that every transaction will be confirmed by every network in the Blockchain so that there is no need for a third party as an intermediary in every transaction activity. The concept of decentralization in Blockchain ensures that every transaction that occurs in the system so that every transaction that exists when it is confirmed will be absolute and cannot be canceled.

With this Blockchain technology, Peer to Peer interactions can be continuously improved without the need for the help of intermediaries. Unlike the case with conventional currency exchanges which require a broker in digital currency or Cryptocurrency, the presence of a professional broker is no longer required. This ink further provoked the curiosity of Undiknas students who were present to find out more about the blockchain working system. The two speakers presented were able to ‘hypnotize’ all seminar participants at the Undiknas Auditorium so that in the future they can try to transact using Cryptocurrencies.

Through this event, it is hoped that seminar participants can better understand what and how Blockchain can contribute to the world economy. All information obtained is also expected to be useful for Undiknas students who want to enter the world of Cryptocurrency to understand more about how the technical aspects of this system work so that they are not trapped in misleading information. The seminar was marked by the handover of certificates as a form of appreciation to the two speakers, followed by a group photo.